Global Radiation Therapy Equipment Market to Reach US$6.6 Billion by

Abstract: Global Radiation Therapy Equipment Market to Reach US$6. 6 Billion by the Year 2026 . Radiation therapy or radiotherapy has emerged as an integral part of treatment for cancer patients.

New York, Oct. 11, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Radiation Therapy Equipment Industry” – https://www.reportlinker.com/p05442588/?utm_source=GNW
By using high-energy radiation from sources such as X-rays, neutrons, protons, and gamma rays, radiotherapy kills cancer-affected tissues or prevents multiplication of cancer cells in the body. Growth in the global market continues to be driven by the constant increase in the number of cancer patients across the world and the increasing adoption of radiation therapy for treatment of cancer. Advancing cancer treatment technologies and increasing availability of reimbursement coverage for radiotherapy treatments is expected to favor market growth. Also driving growth is the steadily expanding elderly population and rising incidence of cancer in this age group. Reducing cost of treatment in several developed nations, and increasing government and private investments in research and development associated with cancer treatment are fostering growth in the global radiotherapy equipment market. The recent advancements and innovations in the radiation therapy space have led to the development of effective treatments, a good prognosis, and reduced side effects during the treatment. There are significant developments observed in the areas of stereotactic body radiation therapy (SBRT), intensity-modulated radiation therapy (IMRT), nanotechnology, 4D imaging, particle therapy, which are further improving the radiotherapy treatments.

Amid the COVID-19 crisis, the global market for Radiation Therapy Equipment estimated at US$5.2 Billion in the year 2020, is projected to reach a revised size of US$6.6 Billion by 2026, growing at a CAGR of 4.3% over the analysis period. External Beam Radiation Therapy, one of the segments analyzed in the report, is projected to grow at a 4.5% CAGR to reach US$5.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Internal Radiation Therapy segment is readjusted to a revised 3.5% CAGR for the next 7-year period. This segment currently accounts for a 9.5% share of the global Radiation Therapy Equipment market. The external beam radiation therapy involves transmission of radiation through a machine that is placed outside the body. Incidence of cancer cases, and increasing patient and physician awareness about procedures, ongoing improvement in diagnostic techniques, and availability of advanced diagnostic techniques are driving segment growth. Internal radiation therapy, also termed as brachytherapy, involves placing radioactive material or implant through a catheter, at the tumor site and at surrounding tissue. Growth in the…